L Zoned Duplex in Seattle

Here is another off-market property for sale in Seattle!

This one is located near 24th Ave NW and NW 61st Street in the hot, hot Seattle neighborhood of Ballard. It is an L1-zoned duplex property on a 3400 sf lot. The house was originally built in 1908 and has approximately 2440sf of finished living space. It has two one-bedroom units and a one-car driveway.

The property is in excellent condition. The roof and skylights are two years old. The house was fully repainted last summer. There are no tenants. The owner lives in the house currently as a single family home.

The minimum terms the Seller would require for selling the property are:

· All Cash

· No seller’s commission

· 15 day close

· 90 days after closing to vacate the property with an option to extend (monthly rent negotiable)

· Sales price of $625,000

If you are interested in getting more details about this property, please send me a private email at HomeLandInvestment@gmail.com



Happy Investing!

Seattle Multifamily Sales

There have been 78 sales of duplexes, triplexes and 4-plexes in Seattle in the past six months. These smaller multifamily properties may be financed as residential, rather than commercial properties; so new investors and owner-occupants looking to save on mortgage costs love them.

The $500K - $600K price range is the most popular for small multifamily sales in Seattle, with the median price being $470,000.

46 of the 78 sales (59%) were for duplexes. The median duplex of 2100sf sold for $377,500 ($179.76/sf)in 61 days. One-third of these sales were in the 705 NWMLS area of Ballard, Green Lake, Phinney Ridge, Fremont and Woodland Park. The median duplex there had 1860sf and sold for $430,000 ($231.18/sf)in 60 days.

21 sales (27%) were for triplexes. The median triplex of 2600sf sold for $542,000 in 50 days ($208.46/sf). Ballard had the most transactions for triplexes, with the median Ballard tri going for $599,500 in 7 days for a 2925sf property ($204.96/sf).

The remaining 11 sales (14%) were for 4-plexes, with median size of 3864sf that sold in 96 days for $785,000. Three of these transactions were located in Ballard, where the median price was $875,000 for the same square footage, and which sold in 31 days.